1. Preheat oven to 325°F.
  2. Combine all glaze ingredients into a small saucepan over medium to medium-high heat. Allow mixture to just come to a boil and reduce heat to a low simmer. Continue cooking over low heat for 5-7 minutes, stirring occasionally, until glaze is thickened.
  3. Remove from heat, glaze will continue to thicken upon standing.
  4. Place ham in a shallow baking dish and brush with half of the glaze.
  5. Add ¼ cup of water to the bottom of the baking dish and place in oven.
  6. Bake ham for approximately 15 minutes per pound, or until internal temperature reaches 130°F, and brush with remainder of glaze halfway through baking.
  7. Remove ham from oven and allow to cool slightly before slicing.